Rep. John Yarmuth’s office just released a letter he wrote to House Speaker Nancy Pelosi (D-Lightning Rod) in which he calls for the creation of an historic ‘Infrastructure Bank’ that would be a public-private partnership to allegedly create jobs, spur economic growth and provide funds for transportation projects.
According to Yarmuth’s office, targeted investment in transportation and infrastructure helps boost the economy with a serious ripple effect. For every dollar spent on infrastructure, $5.70 in economic activity is spurred and for every $1 billion invested more than 47,000 jobs are created.
“Families all around the country are hurting from the downturn in the economy, and major steps are needed to both stimulate the economy in the short term and build a stronger fiscal foundation in the long-term,” Congressman Yarmuth said. “The infrastructure bank will provide that boost now and into the foreseeable future, while also building the projects that our communities so desperately need.”
Read Yarmuth’s letter to Pelosi after the jump…